Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Rating of “Hold” from Brokerages

Park Hotels & Resorts Inc. (NYSE:PKGet Rating) has been assigned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.38.

Several research firms recently commented on PK. Wells Fargo & Company raised shares of Park Hotels & Resorts from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $20.00 to $17.00 in a report on Monday, August 29th. Compass Point cut their price objective on shares of Park Hotels & Resorts to $25.00 in a report on Tuesday, November 15th. UBS Group cut their price objective on shares of Park Hotels & Resorts to $15.00 in a report on Tuesday, September 6th. Sumitomo Mitsui Financial Group downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, August 8th. Finally, BMO Capital Markets downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “market perform” rating and cut their price target for the company from $21.00 to $18.00 in a report on Tuesday, August 16th.

Hedge Funds Weigh In On Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Park Hotels & Resorts in the second quarter valued at about $45,000. Wipfli Financial Advisors LLC purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at about $45,000. Lindbrook Capital LLC increased its position in shares of Park Hotels & Resorts by 143.9% in the second quarter. Lindbrook Capital LLC now owns 3,410 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 2,012 shares during the period. Lazard Asset Management LLC increased its position in shares of Park Hotels & Resorts by 851.0% in the second quarter. Lazard Asset Management LLC now owns 4,080 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 3,651 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Park Hotels & Resorts by 2,821.3% in the third quarter. UMB Bank n.a. now owns 7,274 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 7,025 shares during the period. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Park Hotels & Resorts Trading Down 1.8 %

Shares of PK stock opened at $12.20 on Friday. The company has a 50 day moving average of $12.26 and a 200-day moving average of $14.35. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.08. Park Hotels & Resorts has a 12-month low of $10.98 and a 12-month high of $20.58. The firm has a market cap of $2.74 billion, a P/E ratio of 42.07 and a beta of 1.95.

Park Hotels & Resorts (NYSE:PKGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.23). Park Hotels & Resorts had a return on equity of 1.41% and a net margin of 2.67%. The company had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $651.62 million. Sell-side analysts anticipate that Park Hotels & Resorts will post 1.43 earnings per share for the current year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, September 29th. Park Hotels & Resorts’s dividend payout ratio is currently 13.79%.

About Park Hotels & Resorts

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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